504-506*** 1st Street, Jackson, MI 49203
- $1,100,000
- List Price
- $1,100,000
- Days on Market
- 39
- MLS#
- 26030627
- Status
- ACTIVE
- Type
- Multifamily
Property Description
Income-producing 12-unit multifamily portfolio featuring an 8-unit building at 504-506 First St. and a 4-unit building at 510 First St. Offered as one package, this value-add investment provides immediate cash flow with upside potential through continued stabilization and rent optimization. Current gross income is approximately $101,000 annually with a current NOI of $63,000 and a 5.75% cap rate. Seller projections indicate potential stabilization to over $105,000 NOI and a cap rate approaching 9.6%. Located in a strong rental market with high renter occupancy, limited inventory, and consistent housing demand. Excellent opportunity for investors seeking workforce housing, multifamily assets, portfolio expansion, or a 1031 exchange acquisition in Jackson, Michigan.
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Additional Information
- Owner Pays
- Sewer, Trash Collection, Water
- Taxes
- $1,753
- Acres
- 0.19
- Basement
- Full
- Heating
- Baseboard, Radiant
- School District
- Jackson
- Sewer
- Public Sewer
- Tenant Pays
- Electricity, Gas
- Total Parking Spaces
- 12
- Utilities
- Natural Gas Connected, Electricity Connected, Electricity Available, Natural Gas Available
- Water
- Public Water
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Listing courtesy of Listing Agent: Jennifer Chmielewski from Listing Office: ERA Reardon Realty, L.L.C..
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